The award-winning Keystone Group is divesting the freehold of its Kings Cross icon, the four-level Sugarmill Hotel, at 33 Darlinghurst Rd. Expected to fetch around $20 million, the immensely successful ground floor bar, two levels of Kit & Kaboodle nightclub, and Sweethearts rooftop bar will stay tenanted by Keystone. One of the landmark venues on […]
One of Australia’s largest pub owner operators, Redcape Hotel Group, has snapped up the top-performing Crown Hotel in Revesby for more than $30 million. Coming in at #19 on the OLGR list of gaming venues, the Crown is Redcape’s largest acquisition to date. PubTIC spoke to Redcape, but the company was unable to comment on
Five big footprint pubs have burst onto the market, as Queensland’s favourable conditions and new developer laws set in. Pub operators Drinx and AT Hotels are divesting pubs in South-East Queensland boasting a massive 37,600 square metres between them, less than three months since the State introduced its new laws for developers. Operating five venues
Massive pubs hit market amid investment and development boon Read More »
Pub Li City P/L has reportedly purchased one of Melbourne’s finest hotels for $45 million. 27-year-old Chinese developer Jiyuan “Louis” Li is the sold director and principle shareholder in Pub Li City Pty Ltd, which placed a caveat over St Kilda landmark Prince of Wales Hotel last week. Known as a live music venue, the
Chinese Pub Li City buys $45 million Prince of Wales Hotel Read More »
With Sydney and Melbourne’s pool of A-grade assets shrinking, demand is rising for hotels in other capitals and city fringes. Hot on the heels of purchases nearby by the publicly listed HPI pub landlords, The Australian yesterday reported the listing of five pubs in greater Brisbane, with the Drinx and AT Hotel Groups deciding the
Pub sales running hot as A-grade assets run short Read More »
The Bay Hotel on the Mornington Peninsula has come on the market, and is likely to attract more investment capital into the pub sector. Prominently positioned in the heart of Main Street, Mornington, the hotel freehold is tipped to bring in more than $6 million as another landlord determines the market is prime for best
Another prime Melbourne freehold hits the market Read More »
The freehold of North Melbourne’s Castle Hotel has hit the market, as the owners determines the market is right for a sale. Marketed through CBRE’s senior director of pubs Scott Callow, the hotel is being sold with a tenant and with expectations over $3 million. “The vendor has owned the property for around 15 years,
North Melbourne hotel hits market amid investor commotion Read More »
After more than a year of speculation, the Bayfield family has officially announced the sale of its iconic Newport Arms Hotel. Having owned the 1880 landmark since 1991, the Bayfields have gradually divested their once golden portfolio, with The Arms undoubtedly the jewel in the crown. In 2012 they offloaded two of their A-grade assets,
Newport Arms hits market as Bayfields sell family jewels Read More »
AHA NSW Group Operator of the Year Gallagher Hotels has divested its Balmain pub, as it focuses on sharpening the edge on other assets. Speaking to PubTIC, Patrick Gallagher explained his group had acquired the former Monkey Bar venue in Balmain as part of the sale of PJ Gallaghers Drummoyne to Iris Group, and never
Gallagher Hotels reshuffles portfolio amid venue fine-tuning Read More »
The Sydney pub market has jumped into 2015, with several quick sales including yet another Iris Group purchase – Riverwood’s Napoleons Hotel. In the Western gaming heartland, Napoleons is the latest of a string of acquisitions for the rapidly growing Iris Group, which is making the most of the current favourable capitalisation and interest rates.
2015 pub market starts hot with another Iris Group purchase Read More »
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